Data: ETH rebounds three times from the bottom, whales increase holdings by 4.8 million tokens

According to Mars Finance, on-chain data shows that the ETH price has recently rebounded three times after falling to the average holding cost of a specific whale group. This indicator tracks whale wallets that meet certain conditions: a single purchase of 100+ ETH, at least two purchases, never sold, current balance of 100+ ETH, and excluding CEX addresses. On-chain data indicates that whenever the price touches this cost line, these addresses experience strong buying peaks. Since the price first touched this level on November 21, these whales have accumulated over 4.8 million ETH, accounting for 4% of the circulating supply, with their balance increasing from 22.4 million to 27.2 million ETH. If this support level is broken, the overall market’s realized price of approximately $2,300 will serve as support below. On-chain analysis shows that being below the realized price implies relative cheapness, making it attractive to investors optimistic about the future market.